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@Anonymous wrote:Excuse me, but I am sharing my opinion like the OP wanted just like everyone else.
I find it great that you are here to give the young man confidence, but doing so knowing he does not stand a chance is a different story. You know should how "recent inquiries" look to lenders with that amount of credit cards you all have.
The OP said it himself. He has only 6 months with one small credit card. Do you really think he is going to get in with 2 new companies on, let's be honest, pretty hard to get credit cards? You need excellent credit to have the American Express and the Discover It. His chances are slim to none.
Instead of cheering him on, you should be a realist and tell him like it is instead of getting his hopes up.
BS
My first CC was AmEx Green in 1998 with no credit history at all. My 18 year old son back in August of this year applied for AmEx on his 18th birthday for BCE and was approved for $2000. After 61 days he requested CLI and is now at $5000. Then he was approved for Chase United for $5000 right away. 3 months of credit history.
Go for it OP. Don't listen to TonicWater.
Awesome guys!
Now whenever I click the link that says, "Request Credit Line Increase" on the Bank of America website, will it be instant or will I have to wait a few days to get a confirmation?
I'm planning this is how I want to do it and I hope and pray it goes smooth:
1st: CLI with BoA
2nd: App for AMEX PRG
3rd: App for Discover It.
(Still haven't decided on what to do first; apping for AMEX or CLI.. Tough one).
Another question is regarding the recon line---- Do I need to perform these apps at a good time around lunch? Is the recon lines available 24/7 or certain times? I'm a very impatient person so I'm going to prepare for the worst and if I get any of the 7-10 day messages or a denial, you better believe I am going to have the recon line ready to call.
ANOTHER question if I may add, haha. Sorry guys. Educate the noob!
I've asked it before I believe. It's regarding the AMEX application. Since I live with my parents and my only responsibility is my CC bill, what shall I put under the "RENT" or "OWN" option? They don't have "other?"
Excuse me, sir, but could it be a possibility that the only reason he got accepted with American Express as his first was because you were already an account holder?
And to get approved for any type of Chase services with 3 months or even 6 months of credit history is a 1 in 30 chance. I would go on a limb and say he was extremely lucky.
It's sad to see smart individuals with executive knowledge and credit cards persuading this young individual on to ruin his credit file. Hope you don't want a car or a house anytime soon, Jonathan. Watch your scores tarnish from all these hard inquiries.
@Anonymous wrote:ANOTHER question if I may add, haha. Sorry guys. Educate the noob!
I've asked it before I believe. It's regarding the AMEX application. Since I live with my parents and my only responsibility is my CC bill, what shall I put under the "RENT" or "OWN" option? They don't have "other?"
You don't rent. So therefore use "Own".
@Anonymous wrote:Excuse me, sir, but could it be a possibility that the only reason he got accepted with American Express as his first was because you were already an account holder?
And to get approved for any type of Chase services with 3 months or even 6 months of credit history is a 1 in 30 chance. I would go on a limb and say he was extremely lucky.
It's sad to see smart individuals with executive knowledge and credit cards persuading this young individual on to ruin his credit file. Hope you don't want a car or a house anytime soon, Jonathan. Watch your scores tarnish from all these hard inquiries.
He won't ruin his credit. Please stop BS us.
@Anonymous wrote:
A couple of inquiries isnt going to ruin his credit.
Do you mean they actually hurt less down the road, and eventually disappear? Wow.....